The Shanxi Coking Industry Association has increased its coke guidance price for February by 50 yuan/tonne on month to 2,000 yuan/tonne. The Association gave a price surge in the upstream sector as its reason for the increase although analysts say that a reduction in capacity caused by the closure and merger of coal mines in the Shanxi region is the main factor.
On Tuesday the leading coking coal producer in China, Xishan Coal Electricity Group, raised the price of coking coal from 1,215 yuan/metric tonne in January to a record high 1,365 yuan/tonne in February.
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